Coins are graded on the Sheldon scale, ranging from About Good (AG-3) to Perfect Mint State (MS-70).
The Full Scale
| Grade | Name | Description |
|---|---|---|
| AG-3 | About Good | Heavily worn, outline visible |
| G-4/6 | Good | Major features clear |
| VG-8/10 | Very Good | Design clear with some detail |
| F-12/15 | Fine | Moderate wear, all lettering sharp |
| VF-20/35 | Very Fine | Light wear on high points |
| EF-40/45 | Extremely Fine | Slight wear on highest points only |
| AU-50/58 | About Uncirculated | Trace wear, nearly full luster |
| Grade | Description | |
| --- | --- | |
| MS-60/61 | Uncirculated but with many contact marks | |
| MS-62/63 | Lightly marked, average luster | |
| MS-64/65 | Well-struck, attractive with minor marks | |
| MS-66/67 | Outstanding quality, minimal marks | |
| MS-68/69 | Near-perfect, exceptional eye appeal | |
| MS-70 | Theoretically perfect — no marks under magnification |
The Value Curve
Value increases exponentially in upper grades. The jump from MS-65 to MS-67 can represent a 5–10x increase in value.